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section 81(1a)

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(Querist)
28 August 2010 pls tell me the details of section 81(1a) and sebi gudelines 2009
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Ankur Garg

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Ankur Garg (Expert)
28 August 2010 As per section 81(1) if a company issue new shares --- Company is required to offer these share to the existing shareholders as right shares.

However section 81(1A) is an exception to section 81(1).

Under section 81 (1A) a comapany can issue new shares to new allottee without offering to the existing shareholders. For this permission of existing shareholders is required through special resolution in GM.
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